Original Post: Application Security Market Size worth $55.0 billion by 2029 | by Mukesh Kulkarni | Aug, 2024
The global application security market is projected to expand from $33.7 billion in 2024 to $55.0 billion by 2029, driven by the increasing reliance on applications and the growing threat of cyberattacks. The shift to cloud-based applications introduces new security challenges, prompting the need for adaptable and robust AppSec solutions. As organizations aim for early detection of vulnerabilities, AppSec vendors are developing user-friendly tools that integrate seamlessly with developer workflows. Managed Security Service Providers (MSSPs) are becoming crucial for SMEs, offering cost-effective solutions and expert guidance.
The mobile application security segment is also seeing rapid growth, necessitated by the widespread use of smartphones and mobile apps, and the Bring Your Own Device (BYOD) trend, which poses unique security challenges. Effective mobile AppSec solutions need to integrate security throughout the development lifecycle, catering to the specific needs of both iOS and Android platforms.
Asia Pacific is anticipated to see the highest growth in application security, driven by digital transformation, increasing cyber threats, stricter data privacy regulations, and rising cloud adoption. Despite challenges such as skills shortages and budget constraints, the region’s long-term market outlook remains optimistic.
Major players in the application security market include IBM, HCL, Synopsys, Microfocus, Capgemini, Onapsis, Cloudflare, Guardsquare, Checkmarx, Fortinet, Checkpoint, Broadcom, Palo Alto Networks, Qualys, and Rapid7. MarketsandMarkets™, a prominent growth consulting firm, highlights the continuing evolution and integration of app security solutions into broader technological and market trends.
For more information, detailed tables, figures, and in-depth analysis, readers are encouraged to download the full PDF brochure and visit MarketsandMarkets™’ website and social media channels.
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